What is Binance USD?
Binance USD (BUSD) is a USD-denominated stablecoin. The BUSD coin was launched jointly by Binance and Paxos, and its market value is pegged to one US dollar.
About Binance USD
Binance USD is a 1:1 USD-backed stablecoin that was launched jointly by Binance and Paxos in 2019. Binance is a leading cryptocurrency exchange and Paxos, a blockchain infrastructure platform, is the issuer of the Binance USD stablecoin.
How BUSD Works
Like many other stablecoins, BUSD is 1:1 USD-denominated stablecoin, meaning that the fair market value of one BUSD is designed to follow the stability of one US dollar. BUSD is a digital-fiat currency that is issued as an ERC-20 token.
According to Paxos, “BUSD is 100% backed by reserves held in either or both (i) fiat cash in dedicated omnibus accounts at insured U.S. banks1 and/or (ii) U.S. Treasury bills (including through repurchase agreements and/or money-market funds invested in U.S. Treasury bills).”
BUSD can be purchased from numerous leading cryptocurrency exchanges.
Donate BUSD to Support a Charitable Organization
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Now that you know more about Binance USD and BUSD, learn how you can donate BUSD to thousands of nonprofit organizations via The Giving Block’s crypto donation platform.
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